VirnetX shares are trading higher after the company filed a certificate of amendment to effect a 1-for-20 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
VirnetX has filed a certificate of amendment to effect a 1-for-20 reverse stock split, leading to a rise in its share prices.
October 26, 2023 | 7:00 pm
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VirnetX's shares are trading higher after the company filed for a 1-for-20 reverse stock split.
A reverse stock split reduces the number of shares in circulation, which can lead to an increase in the stock's price. This is because the earnings per share (EPS) increases, making the stock more attractive to investors. As a result, VirnetX's stock price has increased.
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